Answer:
there will be fewer labor hours purchased by employers than at the equilibrium wage. none of the above
Explanation:
Equilibrium in economics means balance. Equilibrium wage rate refers to the market wage rate where the quantity of labor supplied matches the labor demanded. It is the wage rate that employers are willing to pay, and workers are ready to accept each hour of labor. The equilibrium wage represents the intersection of labor demand and supply curves.
If the wage is set above the equilibrium rate, it will force employers to pay more than they are willing. Employers will be paying more to workers than the value they are receiving. The hiring of many workers will be uneconomical. Employers will hire fewer workers to keep their costs down.
Answer:
b) are processes that are specialized for relatively few products or customer groups.
Explanation:
As the name suggests these are focused specifically for some products and not for all of the products manufactured by a company. These processes promote the product specification details, by advancing the processes of manufacturing more specific.
These are majorly used for customer specified products, generally identical products. In which no two products are similar in nature. And accordingly, these help in maximum customer satisfaction.
Answer: A) Give and explain counter-arguments against the arguments for each side.Note: the "counter-arguments" you are asked to give should oppose or answer the arguments on the other side as directly and convincingly as possible. They should not be simply unrelated arguments on the opposite side of the issue.
Explanation: When is talking about security is important to have different views, firstable you need to establish which are going to be your claims, premises or arguments, once you got it is important to search for information which can support your ideas, and once you have found it, counter-arguments are necessary to understand which are your weakest point, you need to know your counter-arguments and how people are likely to attack you, once you know the weak part of your speech you can defend it.
Holding all other forces constant, if decreasing the price of a good leads to an increase in total revenue, then the demand for the good must be elastic.
<h3>What is total revenue?</h3>
- Total revenue is the total amount of money a seller can earn from offering clients goods or services.
- The formula for this is PQ, or the purchase price times the quantity of the products sold.
- A calculation or equation that describes how certain sources of revenue will behave on a graph.
- The sum a corporation or business owner earns for the goods or services they sell during a given time period is known as total revenue.
- The formula for total revenue assists business owners in determining whether to raise prices or provide a discount on their products.
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